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Price Action and Trading Discussion

  • #641
  • Jan 4, 2012 2:09am Jan 4, 2012 2:09am
Quoting DarkWolF
Hi guys,

.

Can also see a long position I just entered on the 5 min chart long with some confluence of the trend line and the horizontal area. Target area to be just below the RN area if it makes it up there.
Had to leave the chart for a bit so put in an order to take profit in case it made it there while I was gone. As you can see price well and truly made the target area.
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.jpg Size: 129 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #642
  • Jan 4, 2012 2:40am Jan 4, 2012 2:40am
Quoting Musashi
Just sold after the close of that M15 bar... stop loss -20 pips... and target +40 pips... just above the xx50 level...
Well that didn't work out too well...
  • #643
  • Jan 4, 2012 2:59am Jan 4, 2012 2:59am
Quoting DarkWolF
Had to leave the chart for a bit so put in an order to take profit in case it made it there while I was gone. As you can see price well and truly made the target area.
nice trade
  • #644
  • Jan 4, 2012 4:06am Jan 4, 2012 4:06am
Todays price action is a good example of why I like to keep an eye on the horizontal levels in the market.

The lower blue line that price moved back to and held as support is a line I drew on yesterday and left the same line in place today.
Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 152 KB
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  • #645
  • Jan 4, 2012 5:03am Jan 4, 2012 5:03am
A break lower, no to look for a continuation set up if it occurs.

The hourly chart could be showing a good reason to be cautious though.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 4.jpg Size: 155 KB
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  • #646
  • Jan 4, 2012 5:23am Jan 4, 2012 5:23am
Pullback wasnt as deep as I would like but took an entry here, have a BE in already just in case, either way probably be my last trade for the day so just a bit of protection against the RN area as didnt TP there.
Attached Image (click to enlarge)
Click to Enlarge Name: eu2.jpg Size: 128 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #647
  • Jan 4, 2012 5:26am Jan 4, 2012 5:26am
Quoting Musashi
Well that didn't work out too well...
Ok not happy...
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 128 KB
  • #648
  • Jan 4, 2012 5:27am Jan 4, 2012 5:27am
Quoting DarkWolF
Pullback wasnt as deep as I would like but took an entry here, have a BE in already just in case, either way probably be my last trade for the day so just a bit of protection against the RN area as didnt TP there.
And bugger it closed it out just past my line that I had there no need to get greedy, could have let it run with a BE in but its all good.

Done for the day.
Attached Image (click to enlarge)
Click to Enlarge Name: eu3.jpg Size: 131 KB
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  • #649
  • Jan 4, 2012 5:28am Jan 4, 2012 5:28am
Quoting Musashi
Ok not happy...
Ya can be bloody annoying when that happens.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #650
  • Jan 4, 2012 5:31am Jan 4, 2012 5:31am
EU moving nicely short now.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #651
  • Jan 4, 2012 5:32am Jan 4, 2012 5:32am
Havnet been watching the AU chart today but that just had a nice break pullback of a RN area.

Making new lows for the day also now.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #652
  • Jan 4, 2012 8:41am Jan 4, 2012 8:41am
Nice to see you back DW, Charts are always helpfull.

I havnt been trading the last couple of weeks but will be back trading (demo) from Monday

Dan
  • #653
  • Jan 5, 2012 1:37am Jan 5, 2012 1:37am
Quoting dan89
Nice to see you back DW, Charts are always helpfull.

I havnt been trading the last couple of weeks but will be back trading (demo) from Monday

Dan
Hi Dan,

Thanks. I hope your trading is finding the right path within the new year.

Cheers.
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  • #654
  • Jan 5, 2012 1:41am Jan 5, 2012 1:41am
Hi guys,

Here are my levels for EU today.

Just took a short entry on the 5 min chart also started of ok but as I am typing this moving back slighlty, might be a touch too early to be taking an entry, not really letting price make a break of the range first.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 5 min.jpg Size: 123 KB
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  • #655
  • Jan 5, 2012 1:46am Jan 5, 2012 1:46am
A quick look back over some of the PA from after I left the charts last night you can see how price has reacted at some of the horizontal areas that I placed on the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 128 KB
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  • #656
  • Jan 5, 2012 1:56am Jan 5, 2012 1:56am
Quoting DarkWolF
Hi guys,


Just took a short entry on the 5 min chart also started of ok but as I am typing this moving back slighlty, might be a touch too early to be taking an entry, not really letting price make a break of the range first.
Stopped on this one unfortunately
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.jpg Size: 118 KB
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  • #657
  • Jan 5, 2012 2:54am Jan 5, 2012 2:54am
Ok so we have the range break lets see where to from here. Looking for the bottom areas of the range to be reistance areas if retested.
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Click to Enlarge Name: 3.jpg Size: 130 KB
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  • #658
  • Jan 5, 2012 5:54am Jan 5, 2012 5:54am
Quoting DarkWolF
Ok so we have the range break lets see where to from here. Looking for the bottom areas of the range to be reistance areas if retested.
The pullback after the break wasnt as deep as I would have liked but took the entry anyway. Took a while for it to make a move, I held onto it a bit longer than usual.

Ended up taking a second entry after the rejection from the base of the box range. Didnt quite make it to my target area but closed them both out anyway as getting to the end of my trading day.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu2.jpg Size: 133 KB
Click to Enlarge Name: eu3.jpg Size: 133 KB
Click to Enlarge Name: eu4.jpg Size: 142 KB
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #659
  • Jan 5, 2012 4:31pm Jan 5, 2012 4:31pm
Quoting DarkWolF
The pullback after the break wasnt as deep as I would have liked but took the entry anyway. Took a while for it to make a move, I held onto it a bit longer than usual.

Ended up taking a second entry after the rejection from the base of the box range. Didnt quite make it to my target area but closed them both out anyway as getting to the end of my trading day.
Nice trades !
  • #660
  • Jan 6, 2012 1:33am Jan 6, 2012 1:33am
Quoting dan89
Nice trades !
Thanks Dan
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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